Biggest Private Companies Are Tik Tok’s Byte Dance and SpaceX

In July 2021, ByteDance reached a valuation of $425 billion for new private equity investors, according to Chinese technology news portal 36Kr. 36Kr showed three listings of stakes for sale in ByteDance. In 2020, ByteDance more than doubled revenue to $34.3 billion. It posted $2.1 billion in operating losses and logged 1.9 billion users across…
Biggest Private Companies Are Tik Tok’s Byte Dance and SpaceX


In July 2021, ByteDance reached a valuation of $425 billion for new private equity investors, according to Chinese technology news portal 36Kr. 36Kr showed three listings of stakes for sale in ByteDance.

In 2020, ByteDance more than doubled revenue to $34.3 billion. It posted $2.1 billion in operating losses and logged 1.9 billion users across its vast array of service. In September, 2021, Tik Tok announced they had over 1 billion active monthly users.

In June 2021, Facebook had 2.9 billion monthly active users, up 7% year over year. TikTok had a 45% increase in monthly active users since July 2020, when it had 689 million users. In July, 2021, TikTok became the first non-Facebook app to reach 3 billion global downloads.

Instagram, owned by Facebook, is shifting from photo sharing to short video clip sharing. Instagram video clip sharing service is heavily called Reels. Reddit and other are also trying to copy short-form video feeds.

Zhang Yiming is the founder of Tik Tok and he has a net worth of about $45 billion.

Chinese viral video platform Kuaishou Technology is publicly traded. It IPO at $110 billion but has dropped to about $50 billion in valuation.

SpaceX Second Biggest Private Company

SpaceX is the world’s second-largest private company. SpaceX has a new valuation of $100.3 billion which is up from $74 billion in February. SpaceX has an agreement with new and existing investors to sell up to $755 million in stock from company insiders at $560 a share.

Elon Musk owns 54% of SpaceX which means Elon has over $54 billion in SpaceX shares. Elon Musk now has a net worth of $222 billion which is $31 billion more than second-place Jeff Bezos ($191 billion). The 45th richest person has $31 billion.

The valuation of SpaceX will increase when the fully reusable Super Heavy Starship successfully flies to orbit and is used to rapidly expand the network of Starlink satellites. SpaceX will also increase in value with new lower-cost versions of the Starlink antennas. This will lower the costs for people starting with Starlink and mass production of new dishes will increase the adoption rate of Starlink customers. Those improvements could enable SpaceX to onboard a million Starlink customer every month or two in second half of 2022. This will be up from 100,000 total customers now and 20,000 Starlink customers added every month. Starlink customers are paying $99 per month for the service or about $1200 per year.

SOURCES- CNBC, Bloomberg, Nikkei


Written By Brian Wang, Nextbigfuture.com

Subscribe on Google News

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Second Tesla Shanghai Factory Confirmed
Read More

Second Tesla Shanghai Factory Confirmed

Tesla has confirmed they will build a new factory on land near its existing Shanghai plant which is poised to add an annual capacity of 450,000 cars. Tesla still reports that Shanghai currently builds over 450,000 cars per year even though monthly runrates are actually over 800,000 cars per year and capacity is over 1…
SpaceX Super Heavy Booster Could Be Flown Every Hour
Read More

SpaceX Super Heavy Booster Could Be Flown Every Hour

Elon Musk had a Starship and Heavy Booster update. The SpaceX Super Heavy Booster will be eventually flown every hour. It will boost for two minutes and return in four minutes and refuel in 30 minutes. The SpaceX Starships that go to orbit will be flown every 6 to 8 hours. They will have to…
Patch Notes: Mabe Fratti
Read More

Patch Notes: Mabe Fratti

A set featuring cello, guitar and synthsisers filmed inside Mexico City’s Museo Anahuacalli. Mabe Fratti is a Guatemala-born experimental cellist and composer, now based in Mexico City. Her music makes use of cello, voice and synthesisers, drawing on the influence of classical forms such as Gregorian chants and Sephardi music and combining them with modern genres…